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The findings from two new pieces of research suggest that cash could soon be a thing of the past, as people show a clear preference towards debit and credit cards. The growing popularity of paying with plastic could change the way in which painters and decorators accept payment for their work.
The UK Card Association, a trade body for the card payments industry, has revealed statistics which show that the number of card transactions in the UK increased by 25 per cent between 2008 and 2011. Meanwhile, a survey by Cardsave, a firm that provides card payment machines to small businesses, found that 40 per cent of people would prefer to pay for everything by card, with 57 per cent believing that cash would eventually become extinct.
Cardsave has seen demand for its card payment machines double in five years as businesses keep pace with changing customer preferences; what's more, the company has recently seen a surge in tradesmen buying its payment devices.
With cash payments losing popularity and other forms of payment, such as cheques, also becoming increasingly shunned, now may be a good time for many painters and decorator to think about getting kitted out with a portable card payment device.
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